Which of the following is TRUE of incentives?
A) Different people are motivated by different incentives.
B) Money is the only measure of incentives.
C) All of the people in a particular nation are motivated by the same incentives.
D) In economics, people are assumed to respond to disincentives instead of incentives.
A
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Refer to Scenario 6.1. The dominant strategy is for Tasha to work ________ and for Gloria to work ________
A) extremely hard; extremely hard B) extremely hard; somewhat hard C) somewhat hard; extremely hard D) somewhat hard; somewhat hard
A ________ is owned by its stockholders
A) sole proprietorship B) partnership C) corporation D) All of the above are correct.
Suppose the cost of producing two goods, x and y, can be represented as C = ax + by + cxy. If the measure of economies of scope, SC, is zero, then which of the following must be TRUE?
A) a = b B) a + b = -c C) c = 0 D) a = -b
What happens when the dollar price of euros changes from $1.00 to $2.00?
a. European products become relatively cheaper to U.S. consumers.
b. A euro becomes worth $0.50.
c. The quantity of euros demanded by U.S. consumers decreases.
d. The U.S. dollar becomes stronger compared to the euro.